Rental amenities can significantly impact how well your property can draw in new tenants, keep hold of the ones it already has, and even raise its value. The first chance to make a strong impression on potential tenants is with rental homes’ curb appeal. Amenities, particularly outdoor ones, can make your home stand out in an increasingly competitive market when potential tenants compare their options.
More amenities are needed within the unit. Nationwide, renters today want more from their rental homes than just a place to sleep at night. They are searching for rentals that provide things like outdoor “extras” that are now commonplace, so they can have somewhere to enjoy outside their apartment.
It may be time to consider joining the race for amenities if you’re interested in marketing your property in line with tenant expectations. Fortunately, many diverse amenity options will help your rental home stay current. So join us as we explore how outside spaces affect rental property value.
Factors That Can Affect The Look Of An Outdoor Space
Unquestionably, choosing outdoor furniture involves thinking through how you intend to use your outdoor living area. The appropriate furniture is crucial if you want to turn your outdoor area into an extension of your house. The type and arrangement of the furniture will determine the mood of the space, whether it is a teak sofa tucked into a nook of a coastal property or a black wrought iron dining set on the terrace of a high rise. Many of the best outdoor areas have superb flow yet are modest in scale. Ask a knowledgeable property manager about the required maintenance in your outdoor space.
You can create an atmosphere for special occasions by keeping the furniture straightforward, practical, and consistent with the aesthetic of the rest of the house. Getting the same design and comfort you would find indoors in your outdoor living space is easier than ever, thanks to the variety of finishes and fabrics available for outdoor furniture.
Even though you don’t have many walls to put colorful items on, adding colored accents will still have a similar effect. Use colorful throw pillows that mimic your current color palette inside your home to add interest to an outside setting. Bring blankets and toss pillows that you would use both indoors and outside! This will give the room a more significant and unified appearance.
Additionally, introducing vibrant plants might change how your outside area looks. Despite their initial beautiful looks, foreign plants are a lot of trouble. Local plants are already used to the climate and geography of the area; they don’t need chemical assistance to maintain their healthy growth. These plants might expand and thrive on their own. They help save yard maintenance time and preserve the biodiversity of a region. They also serve as habitats for local wildlife, such as birds and butterflies.
The flooring is crucial to creating a functional and aesthetically pleasing outdoor living area. Due to its longevity, ease of upkeep, and design options, concrete flooring is appealing for outdoor living spaces.
You can easily customize concrete flooring for any outdoor living space because it comes in a vast assortment of hues, textures, and finishes. In addition, concrete flooring offers countless design options, from stamped concrete that mimics the appearance of genuine stone to ornamental overlays that can add distinctive patterns or designs.
Concrete is also a more affordable alternative when compared to other outdoor flooring options like stone or tile. Concrete is a cheap alternative for homes because it is a commonly available material, and the installation process is simple enough. In the long term, concrete is a cost-effective investment because of its durability; it can survive for decades without needing maintenance or replacement.
How Do Outdoor Spaces Affect Rental Property Value?
1. Increased curb appeal
A property’s curb appeal immediately attracts people when they approach it from the street. Likewise, an immediate opinion about a property is formed when all of its outward-facing components—the house, the landscaping, the driveway, etc.—are all seen simultaneously.
Renters will presume that the interior will be in good shape if the home’s exterior is tidy, attractive, and well-maintained. Prospective tenants look at a home’s exterior first when considering renting it. First impressions matter a lot. If your property seems neglected or rundown, it can turn potential tenants off before they even enter. On the other hand, a home with exceptional curb appeal and proper upkeep might leave a positive impression and entice potential tenants to check out the interior.
2. Enjoy a Flexible Living Area
Whether residing in a large duplex or a modest one-bedroom apartment, having outdoor space gives occupants access to a more flexible living environment that instantly increases the amount of space, adaptability, light, and air in the house. Even the smallest high-rise apartments gain uniqueness from having this area, allowing tenants to enjoy the outdoors in the middle of a busy urban environment. For some tenants, this may serve as an additional living space; for others, it may be an extra dining room or even a little garden for green-fingered dwellers seeking the best of both worlds.
Outdoor facilities are in high demand; that much is certain. As a result, you may enhance the quality of life for tenants and consequently boost your business’s profitability by investing in outdoor spaces to keep current tenants and draw in new ones.
With so many possibilities for various outdoor amenities, carefully consider each before selecting the one that would provide your property with the maximum return on investment.